PDT Partners LLC Makes New Investment in MarketAxess Holdings Inc. $MKTX

PDT Partners LLC purchased a new position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 28,171 shares of the financial services provider’s stock, valued at approximately $3,197,000.

Other hedge funds have also recently modified their holdings of the company. RDST Capital LLC purchased a new position in shares of MarketAxess in the 2nd quarter valued at approximately $28,045,000. Legal & General Group Plc acquired a new position in MarketAxess during the 2nd quarter valued at approximately $9,585,000. The Manufacturers Life Insurance Company acquired a new position in MarketAxess during the 2nd quarter valued at approximately $1,120,000. Sone Capital Management LLC purchased a new position in shares of MarketAxess in the second quarter worth $17,650,000. Finally, Algert Global LLC raised its holdings in shares of MarketAxess by 478.2% in the second quarter. Algert Global LLC now owns 112,400 shares of the financial services provider’s stock worth $12,756,000 after buying an additional 92,960 shares during the last quarter. Institutional investors and hedge funds own 99.01% of the company’s stock.

MarketAxess Stock Performance

MarketAxess stock opened at $162.52 on Thursday. MarketAxess Holdings Inc. has a 1-year low of $108.75 and a 1-year high of $195.96. The stock has a market cap of $5.72 billion, a price-to-earnings ratio of 19.17, a price-to-earnings-growth ratio of 2.07 and a beta of 0.83. The firm has a 50 day simple moving average of $134.45 and a 200-day simple moving average of $150.74. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.85 and a quick ratio of 1.85.

MarketAxess (NASDAQ:MKTX) last posted its earnings results on Thursday, July 30th. The financial services provider reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.10. MarketAxess had a net margin of 35.22% and a return on equity of 22.48%. The company had revenue of $218.41 million for the quarter, compared to analysts’ expectations of $216.70 million. During the same quarter in the prior year, the company posted $2.00 earnings per share. MarketAxess’s revenue for the quarter was down .5% compared to the same quarter last year. On average, analysts expect that MarketAxess Holdings Inc. will post 8.06 EPS for the current year.

MarketAxess Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Wednesday, August 19th. MarketAxess’s dividend payout ratio (DPR) is presently 36.79%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen lowered shares of MarketAxess from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Keefe, Bruyette & Woods restated a “market perform” rating and set a $167.00 price objective (up from $150.00) on shares of MarketAxess in a research note on Tuesday, August 11th. William Blair downgraded MarketAxess from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 30th. Rothschild & Co Redburn reissued a “neutral” rating and set a $134.00 price target (down from $189.00) on shares of MarketAxess in a report on Thursday, June 11th. Finally, Piper Sandler dropped their price objective on MarketAxess from $175.00 to $128.00 and set a “neutral” rating on the stock in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, MarketAxess has an average rating of “Hold” and a consensus target price of $156.10.

MarketAxess Company Profile

MarketAxess Holdings Inc operates a leading global electronic trading platform specializing in fixed-income securities and related products. The company’s network enables institutional investors and broker-dealers to trade corporate bonds, municipal securities, emerging markets debt, U.S. Treasuries and credit default swaps in an automated, multi-dealer environment. MarketAxess also offers portfolio trading, data analytics, best-execution tools and post-trade services to streamline workflows and enhance price discovery across its marketplace.

In addition to core voice-like trading protocols, MarketAxess provides Open Trading®, an anonymous, all-to-all trading protocol designed to improve liquidity and transaction efficiency.